Global Fidelity Bank, Ltd. (In Official Liquidation) - Licence Revoked

RE: Global Fidelity Bank, Ltd. (In Official Liquidation) - Licence Revoked

The Cayman Monetary Regulatory Authority International (the “Authority”) wishes to inform the public that it has revoked the Category ‘B’ Banking Licence of Global Fidelity Bank, Ltd. under section 18(1)(i) of the Banks and Trust Companies Act (2021 Revision) (the “Act”). This revocation follows the Grand Court of the Cayman Islands' decision to place the bank into Official Liquidation on 22 July 2021. Messrs. Michael Pearson and Adam Keenan of FFP Limited were appointed as Joint Official Liquidators (“JOLs”).

Additionally, the Authority has determined that Morry Rubin, George Rubin, and William Walter McKibbin III are not fit and proper to hold the positions of director and/or shareholder of a licensee, in accordance with sections 18(1)(f) and 18(1)(g) of the Act.

The public is advised that any inquiries or concerns regarding this matter should be directed to the Joint Official Liquidators or the Authority’s enforcement division for further information.